Zacks Investment Research downgraded shares of Altisource Residential (NYSE:RESI) from a hold rating to a strong sell rating in a report released on Saturday morning.
According to Zacks, “Altisource Residential Corporation is engaged in the acquisition and ownership of single-family rental assets. Altisource Residential Corporation is based in Frederiksted, U.S. “
Separately, BidaskClub upgraded Altisource Residential from a strong sell rating to a sell rating in a research note on Saturday, November 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Altisource Residential currently has a consensus rating of Hold and an average target price of $15.43.
Altisource Residential (NYSE:RESI) last released its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.34). Altisource Residential had a negative net margin of 266.58% and a negative return on equity of 21.64%. equities analysts expect that Altisource Residential will post -3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Thursday, December 28th. Altisource Residential’s payout ratio is currently -15.38%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in shares of Altisource Residential by 7.7% in the 2nd quarter. Voya Investment Management LLC now owns 28,170 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 2,005 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Altisource Residential by 4.8% in the 2nd quarter. Teachers Advisors LLC now owns 91,336 shares of the real estate investment trust’s stock worth $1,182,000 after acquiring an additional 4,167 shares in the last quarter. BW Gestao de Investimentos Ltda. boosted its holdings in shares of Altisource Residential by 13.5% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 34,985 shares of the real estate investment trust’s stock worth $453,000 after acquiring an additional 4,173 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Altisource Residential by 9.1% in the 2nd quarter. Rhumbline Advisers now owns 68,655 shares of the real estate investment trust’s stock worth $888,000 after acquiring an additional 5,703 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its holdings in shares of Altisource Residential by 12.0% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 59,893 shares of the real estate investment trust’s stock worth $775,000 after acquiring an additional 6,410 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors and hedge funds.
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About Altisource Residential
Altisource Residential Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing single-family rental (SFR) properties throughout the United States. The Company conducts its activities through its subsidiary, Altisource Residential, L.P., and its subsidiaries.
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